Wanted: European private credit co-investors While private equity co-investments are broadly popular, such positions in private debt remain relatively rare, though they show room for growth. Co-investments are not quite the norm in private credit, but they represent a possible area… Subscribe to Read MoreAlready a member? Log in here...
Core MM had a big 2018 Download PitchBook’s Report here. The US middle market went gangbusters last year, setting records in both volume and dollars. Two of the three segments of the middle market, however, inched down YoY…. Subscribe to Read MoreAlready a member? Log in here...
Private Debt Investors Remain Cautious During Q1 2019, private debt investors issued 249 fund searches and mandates for investments they are targeting in the coming 12 months. Perhaps due to their concern about the prospect of an equity market downturn, it seems that institutions are taking a generally cautious attitude to the asset class…. Subscribe
Buyout multiples: Steady as they go Coming soon Download PitchBook’s Report here. Despite nine interest rate hikes since December 2015, buyout multiples have remained remarkably steady. The four-quarter rolling median, which helps smooth out that trend over time, has increased by a single turn since early 2016… Subscribe to Read MoreAlready a member? Log in here...
Historical Data – US: ABL Volume & Deal Count Almost US$24bn in asset based loan volume was completed via retail syndication in the US in 1Q19, a 29% increase over the year ago period, but down nearly 26% from the record quarterly high garnered in 4Q18…. Subscribe to Read MoreAlready a member? Log in here...
Private Debt Funds in Market The private debt fundraising marketplace is becoming increasingly crowded: as of the start of April 2019, there are 407 vehicles seeking a total of $182bn from investors. These figures have continued to increase from the 395 funds seeking $168bn at the start of the year to reach a new record…
European real estate debt: Are the foundations crumbling? Investor enthusiasm appears to be waning as Brexit worries cast a cloud over the sector. Capital allocated to funds with a focus on European real estate debt reached a record level of almost $12 billion in 2017, according to PDI data…. Subscribe to Read MoreAlready a member?
SBOs are growing in size Download PitchBook’s Report here. Private equity has three major exit ramps—strategic sales, secondary buyouts and IPOs. They tend to trend independently of one another, which is to say that market dynamics usually favor one or two options over another…. Subscribe to Read MoreAlready a member? Log in here...
Market Survey: slowing pace of demand expected well into 2Q More than half of buyside and sellside players surveyed by LPC at quarter-end said that the pace of new CLO issuance will not pick up while one quarter said it could slow down moderately…. Subscribe to Read MoreAlready a member? Log in here...
One more bad bit of fundraising news for first-time funds If the slowdown in fundraising continues, more LPs may make their full commitments to their funds of choice, accelerating the trend of fewer firms raising more money. With private debt fundraising tumbling, more investors may be looking to allocate their full commitment… Subscribe to Read